South: SMMT confidence soars as July posts 17th consecutive monthly rise

The Society of Motor Manufacturers and Traders (SMMT) has significantly raised its forecast for 2013 new car registrations, predicting sales will reach 2.216 million units, 8.4% ahead of 2012. This follows strong performance across the private, fleet and business market sectors which saw the 17th successive monthly rise in July, growing 12.7% to 162,228 units. 

Registrations of alternatively-fuelled vehicles grew 17% in the month to 2,432, and hit 17,859 units for the January to July period. On top of this, plug-in car registrations have risen 70.7% over the first seven months of 2013, to 1,885 units.

"Strong business and consumer confidence in July saw the new car market continue to rise, posting double-digit growth in the month. Now we have evidence of consistent growth, we have raised our forecast for 2013 new car registrations to 2.216 million units, an increase of over 8% on last year," said Mike Baunton, SMMT interim chief executive. "Recently, we've seen a range of economic indicators point to improving conditions and our raised sales forecast emphasises how positively we view the rest of 2013."

One of the largest and most influential trade associations in the UK, SMMT supports the interests of the UK automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.

The automotive industry accounts for £59 billion turnover and £12b value added. With more than 700,000 jobs dependent on the industry, it accounts for 10% of total UK exports and invests £1.7b each year in automotive R&D.